AKPK Free Helps to Solve Serious Credit Card Debt Problems

20 November 2009 | Category: Financial Planning | Leave a Comment

How to solve your serious credit card debt problems? Get the Free Debt Counselling from AKPK immediately before the credit card’s compound interest and late charges creating more bad debts and screw up your life. What is AKPK (Agensi Kaunseling dan Pengurusan Kredit) or Credit Counselling And Debt Management Agency?

AKPK is an agency set up by The Central Bank of Malaysia in April 2006 to provide Financial Counselling and Debt Management Programme (DMP) for individuals. Source: AKPK

Under DMP, they assist you to do personal debt restructuring with financial service providers. All your credit cards will be terminated until all the debts are settled. Basically, AKPK might help you to:

  • Reduce to lower interest rate instead of 18% p.a.
  • Lower down the minimum payment at your affordable figure

However, it is available only for those who are:

  • Having a positive cash flow after deduct basic living expenses
  • Having total debt less than RM2 million
  • Not under advanced litigation process
  • Not a bankrupt

To learn more about credit card debt solutions, login www.akpk.org.my to seek for their professional advice.

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Don’t Invest Property in KL Top 10 Flood Prone Areas

16 November 2009 | Category: Property Investment | Leave a Comment

Is my property in a flood zone? It is a nightmare question to be raised in every home buyer’s mind regardless they bought it for investment or own staying purposes.
flood prone areas kl malaysia
Photo: The Star Online

Recently, heavy rain in KL and PJ almost every day. Flood warning system is alarming. The State Drainage and Irrigation Department (DID) and Kuala Lumpur City Hall (DBKL) are on high alert for flood monitoring in Selangor and Kuala Lumpur (KL). They have spotted Top 10 flood prone areas in KL as below:

  • Jalan Duta
  • Jalan Cheras (near Tesco)
  • Kampung Baru
  • Kampung Periok
  • Segambut Dalam
  • Segambut Bahagia
  • Kampung Kasipillay
  • Kampung Kolam Air
  • Jalan Kelang Lama (4th mile)
  • Jalan Travers

The areas named on above are now become my blacklisted property location for investment. Click here for other flood prone areas under Petaling Jaya City Council (MBPJ), Selayang Municipal Council (MPS) and Batu Caves.

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Estimate How Long To Double Your Money Using Rule of 72

13 November 2009 | Category: Financial Planning | 2 Comments

rule of 72 formula
Rule of 72 is a simplified formula used to estimate how long it takes to double your money based on compounding interest calculation. Besides, it tells you also how fast your money will become half of its value due to inflation.

For layman who is not familiar with scientific calculator or financial calculator, Rule of 72 formula is one of the best ways to do fast calculation and basic analysis on compound interest investment.

Compound Interest Examples

Example 1: Assumed you have invested RM50,000 into a investment product that give you interest rate of 6% per annum. That means twelve (12) years later, RM50,000 become RM100,000

Years Required to Double Your Money,
= 72 ÷ Interest Rate
= 72 ÷ 6
= 12 years

Example 2: Assumed you have invested RM10,000 into a investment product and expect to double the money within 8 years. Hence, ROI 9% per annum is required to achieve your target.

Interest Rate Required to Double Your Money within Targeted Time Frame,
= 72 ÷ Number of Years Targeted to Double Your Money
= 72 ÷ 8
= 9% per annum

How Fast Inflation Depreciates Your Value of Money?

Example 3: Assumed inflation rate fixed at 4%, your RM20,000 become half of its value after 18 years.

Years Required to Half your Money,
= 72 ÷ Inflation Rate
= 72 ÷ 4
= 18 years

Generally, the Rule of 72 has increased my ‘financial sense’. That’s why I would like to share it with readers here and I believe you are able to master it within an hour. Treat it as mind training. Have fun with the simple math practice and invest your money wisely. All the best!

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